Unequal lives-ANPV approach Evans Industries wishes to select the best of three possible machines, each of which is expected to satisfy the firm's ongoing need for additional aluminum-extrusion capacity. The three machines-A, B, and C-are equally risky. The firm plans to use a cost of capital of 12.4% to evaluate each of them. The initial investment and annual cash inflows over the life of each machine are shown in the following table. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Machine A $91,400 Machine B Machine C $101,200 $65,400 Cash inflows (CFt) $9,200 19,100 29,300 40,800 Initial investment (CFo) Year (t) $12,900 12,900 12,900 12,900 12,900 12,900 $30,700 30,700 30,700 30,700 30,700 4 a. Calculate the NPV for each machine over its life. Rank the machines in descending order on the basis of NPV. b. Use the annualized net present value (ANPV) approach to evaluate and rank the machines in descending order on the basis of ANPV. c. Compare and contrast your findings in parts (a) and (b). Which machine would you recommend that the firm acquire